| World’s sugar
production trends
It is forecasted that there is drop in world raw sugar production in the year 2000-01.The US agriculture department reported that world’s raw sugar production is suppose to drop 6% in 2000-01 to 124.4m matric tonne, ending the longest run of annual increases since the 1960s. World sugar production is forecast at 14.5m metric tonne in 2000-01, down from 19.7m in 1999-2000, because of an expected decline in harvested acreage. In addition, the percentage of the Brazilian crop used for ethanol production is forecast to rise to 61% in 2000-01, from 53% in 1999-2000. Lower production in Australia because of drought, and in the European Union because of smaller production quotas, will also help reduce oversupplies that have weighed on sugar prices the past two years as reported by USDA. EU output is forecast to fall to 17.0m metric tonne in 2000-01 from nearly 19.6m in 1999-2000, whereas. Australian output is pegged at 5.0m metric tonne in 2000-01, down from 5.5m. The expected drop in world output is accompanied by forecasts for lower trade and some reduction in "the severely high stocks that accumulated last year," USDA said. The department pegged total world sugar trade at nearly 33.0m metric tonne in 2000-01, down from 37.9m in 1999-2000. It is furtherly stated that, over the past six years, world sugar stocks have risen to an estimated 33.0m metric tonne at the end of 1999-2000, from 19.3m at the end of 1993-94. World sugar consumption is forecast to increase modestly in 2000/01 to 127.9m in 1999-2000, the department said. One notable exception to the overall decline in world sugar production is China. USDA said it forecast China sugar production at 8.0-m metric in 2000-01, up from 7.2m in 1999-2000. Higher sugar production is also expected in Russia and Ukraine in 2000-01, as the department said. |
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